However, Microsoft has some fresh ammunition to help turn the tides in its favor. Earlier this week, Microsoft announced that it will offer a $399 SKU of the Xbox One that doesn’t include the Kinect camera — this puts the console at pricing parity with the PS4.

And today, Microsoft and 343 Industries announced that the next installment in the “Halo” gaming series, “Halo 5: Guardians,” will come to the Xbox One in Fall 2015. According to Microsoft, “Halo 5” will obviously be a more significant undertaking the “Halo 4” and will fully leverage the hardware capabilities of the Xbox One:

That applies to the content and scope of the game, as well as the technology in what’s now a brand new and more powerful engine. Certainly there are some core elements carried over from prior games, but we’ve invested a huge effort in retooling our tech to take full advantage of the Xbox One’s hardware and ecosystem to create worlds and experiences worthy of next-gen.

In addition to “Halo 5”, Microsoft also announced that the new “Halo” television series would also arrive in Fall 2015. The television series is being developed in conjunction with Steven Spielberg, so we have high hopes for the prospects of this venture.